Hi,
I'm a little confused because I got a 1099B on a brokerage account that was set up for me from my previous employer that was part of a Employee Stock Program (RSU Awards).
For context, the company was Yahoo and they awarded Altaba stocks that have been liquidating after they were bought out by Verizon. The only information that was provided was:
Date Sold: 11/02/2020
Proceeds/ Reported to IRS (Box 1d): $1,032.92
Additional Information: Return of Principal
Everything else on the form is marked as N/A (including the cost basis)
I'm not entirely sure how to file this for my taxes (I'm using TurboTax) because I didn't technically sell the stocks (they're sitting in my brokerage account as an Escrow Holding) and when importing the form, TurboTax asks me for things like Cost Basis, but I don't know how that would apply since it's not technically done liquidating.
Any help/insight on this would be very much appreciated.
Thanks in advance!
I am not an expert but had the same situation a few years ago. The cost basis is $0.00 since you received without paying anything if I understand correctly. The stock is sold since the funds are sitting with your broker and you could have withdrawn the funds at anytime. Maybe someone with better stock options knows hoe to decrease the full amount. Turbo Tax will do all calculations and forms once you enter the information